Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1140%/8h= +124.8% APRpaid last 24h +0.330%

Price spread now: Coinbase International against Gate+1.120%7-day average +0.582% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.652%+$165 on $10k

Price spread, last 4 days (all we have)−0.710%−$71 · spread now +1.120%, 7d avg +0.582%

Together, before fees+0.941%+$94 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Coinbase International is 0.538% dearer against Gate than usual: you sell high and buy low: +$54 more if the spread goes back to its 7-day average of +0.582%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate PNUT_USDT	0.05712	0.0100	pay 0.0050% / 4h	3h 33m	$912K	$1.2M	50x
Short	Coinbase International PNUT-PERP-INTX	0.05776	0.1240	get 0.0155% / 1h	33m 43s	$366K	$42K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GatebpFee Coinbase InternationalbpOrdersPrice spread, now +1.120%Rate

Funding earned: $239.4
Price spread: +1.120% → +0.582%: $53.83
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $268.23
Costs to cover: 0.250%
Break-even: from the start

Slippage unknown: Gate: live order book, 4 min ago; Coinbase International: live order book, 19 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 4 min ago	7.83 bp	35.7 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 19 min ago	21.68 bp	64.1 bp −$64	doesn't fit	doesn't fit	doesn't fit

PNUT on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PNUT-USDT-SWAP	+0.0088%	4h	0.05709	−0.053%	$1.7M	$6.4M	20x	as long as short
BloFin PNUT-USDT	+0.0099%	4h	0.05723	+0.193%	$295K	$27K	50x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05709	−0.052%	$3K	$19K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05712	−0.007%	$5.5M	$10.6M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05709	−0.053%	$2.6M	$1.4M	50x	as long as short
Gate PNUT_USDTlong	+0.0100%	4h	0.05712	long leg	$912K	$1.2M	50x
MEXC PNUT_USDT	+0.0100%	4h	0.05712	0.000%	$1.2M	$414K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05712	0.000%	$760K	$1.1M	50x	as long as short
BingX PNUT-USDT	+0.0100%	4h	0.05711	−0.018%	—	$6.6M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05727	+0.271%	$33	$2K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PNUT-USD	+0.0104%	1h	0.05710	−0.036%	$8K	$137K	5x	as long as short
KuCoin PNUTUSDTM	+0.0210%	4h	0.05716	+0.070%	$1.1M	$111K	30x	as long as short
Deribit PNUT_USDC-PERPETUAL	+0.0275%	1h	0.05714	+0.035%	$4	—	10x	as long as short
Hyperliquid PNUT	+0.0834%	1h	0.05725	+0.228%	$1.7M	$502K	3x	as long as short
Kraken Futures PF_PNUTUSD	+0.1167%	1h	0.05720	+0.138%	$24K	$14K	10x	as long as short
Coinbase International PNUT-PERP-INTXshort	+0.1240%	1h	0.05776	+1.120%	$366K	$42K	50x